The South African government has recently announced a range of grants that are available to citizens in 2023. These grants are designed to help individuals, families, and small businesses access funds that can be used to pursue their dreams and goals. This is an incredible opportunity for South Africans who may not have the resources or capital to get started on projects or initiatives they’ve been dreaming about. With these grants, it’s now possible for anyone with an idea and a plan to make it happen without worrying about how they’ll pay for it. In this article we will look at the different types of grants available as well as what you need to do in order to apply for them successfully.
SASSA R350 Grant Extension
The biggest ever grant provided by South Africa has been the SASSA R350 covid relief grant. This grant was introduced in 2020 when local businesses and communications had to shut down to help prevent the spread of Coronavirus. The Finance Minister, Enoch Godongwana, confirmed that the R350 grant would be extended until 31st March 2024. This was announced during his Medium Term Budget Policy Statement at the end of October 2022.
There was a steep drop in the number of grants approved from March to April this year, from nearly 11 million grants to just under 4.8 million in April. The main reason given for this sudden decline in the number of approved grants was due to the means test threshold of R350 which excluded many potential beneficiaries of the grant. Stricter bank verification requirements and online only applications also led to a decline in the number of approved grants. You can still check your sassa status online to see if you have been approved or declined.
NSFAS Funding
If you or someone you know is looking to apply to further education in 2023 then it is definitely worth investigating the government NSFAS funding program. This program, also known as the National Student Financial Aid Scheme, is designed to help financially disadvantaged South African students have access to higher education and training. NSFAS funding can cover tuition fees, student accommodation, meals, textbooks and other expenses. To apply for this funding you must first fill out the online NSFAS application form. The deadline for applications is 31st January 2023.
Funza Lushaka Bursary
Continuing with the educational grants. The Funza Lushaka bursary is one of the most popular bursaries in South Africa. It is part of a national initiative from the Department of Higher Education and Training that provides financial aid to South African students who are pursuing qualifications specifically in teaching. The bursary is aimed at creating a pool of highly qualified, competent teachers with the skills needed to provide quality education in the country’s schools. It covers tuition fees, student allowances and even meals and books depending on the person’s financial needs. Applications for the current round will close on January 16th 2023 so there is still time to get your application in!
Small Enterprise Development Agency (Seda)
The Small Enterprise Development Agency, otherwise known as Seda, is a pioneering organisation with an impressive mission: to make small enterprise development available and accessible for everyone. It offers aspiring entrepreneurs the financial, technological and marketing support they need in order to create their own businesses without requiring large investments or taking excessive risks. By providing resources such as business funding options, trademarks assistance, business plans creation tools, research journals and other informative articles about entrepreneurship Seda helps bridge economic inequalities between rural areas of local communities around South Africa.
South Africans living in lower income communities have the opportunity to improve their quality of life through SEDA’s extensive range of financial services. You can find out more about their offerings on the SEDA website.
Grants are a great way to get financial assistance for those who need it. In South Africa, there are many different types of grants available depending on what you need the money for. Whether you’re looking for social grants, educational grants, or small business grants, there is likely something out there that can help you out. Do some research and see if you qualify for any of these amazing opportunities!
Source – htxt.co.za